Two major companies that you may have heard of before, Apple and Amazon, are both now working to break into the healthcare industry in a big way, which makes sense, seeing as how the health market is one of the most profitable markets in the world. A few weeks ago, on July 21, it was announced that Amazon would acquire One Medical for $3.9 billion. One Medical is a company with a network of primary care practices as well as telehealth services. Apple released a report called “Empowering people to live a healthier day” on July 20, one day before Amazon announced its big purchase.
The report, also called a guide, outlines Apple’s plans to expand its health services and what they want to do to integrate health and technology. The report’s Introduction, written by COO Jeff Williams, states, “Our vision for the future is to continue to create science-based technology that equips people with even more information and acts as an intelligent guardian for their health, so they’re no longer passengers on their own health journey.”
Barry Lynn, the executive director of Open Markets Institute, had this to say about the purchase: “Amazon’s takeover of One Medical is the latest shot in a terrifying new stage in the business model of the world’s largest corporations. The deal will expand Amazon’s ability to collect the most intimate and personal of information about individuals, in order to track, target, manipulate and exploit people in ever more intrusive ways.”
Advancement of technology within the health industry can be exciting or intimidating, depending on who you talk to. At Medcom Benefit Solutions, we are constantly working to stay up to date, or at least in the know, with new industry advancements. However, our commitment to our clients remains the same. We utilize our most essential resources to maintain our status as an industry leader. Our most important resource being our people. Our experts at Medcom continue to provide the same level of attentiveness and expertise in our ever-changing world.
Contact us today for all your employee benefit needs!